The struggle for “Nord stream-2” is in the acute phase

Nord Stream AG 2, which is the operator of the pipeline “Nord stream-2”, will require compensation in the event of a change of the gas legislation of the European Union. This was stated by Executive Director Matthias Warnig.

It should be noted that a 51% stake in Nord Stream AG 2 belongs to “Gazprom”. According to Matthias Warnig in the construction of the pipeline has already invested about five billion euros. These investments are done on the basis of the current gas Directive.

Developed by the European Commission at the end of the 2017 amendments to the gas Directive provide for the dissemination of the provisions of EU energy legislation for natural gas pipelines from countries outside the Union. Amendments can take up to the end of 2018.

The gas Directive is to extend the application of the Third energy package of the European Union for the project “Nord stream-2”. Energy package aimed at liberalization of the electricity and gas market in the European Union. With this document the EU hopes to limit for companies exporting fuel right of possession and control of pipelines. The European Commission is seeking the business section for the sale and transportation of gas.

In practice, for “Gazprom” the introduction of these amendments can mean a significant reduction in the volume flow of gas through the “Nord stream-2”, that would cast doubt on the profitability of the project.

— It is unlikely that the decision to extend the EU Third energy package on the “Nord stream-2” has already been taken, says a leading expert of the national energy security Fund, lecturer of Financial University under the government of the Russian Federation Igor Yushkov. — Gazprom has quite a strong lobbying position in Germany.

Now just the discussion of this project entered its most acute, the hot phase. Brussels, as well as Poland and the Baltic republics trying to find the moves, in order to obstruct the construction of a new pipeline. Just this statement of the subsidiary company “Gazprom” and became a kind of warning to those in Europe, who wants to bury the “Nord stream-2” — that Europe will have to answer for any Russian company the damage.

The logic of the situation here is — Brussels finds no reason to just go and ban a new Russian gas pipeline. Therefore, the EU tries to extend the application of the Third energy package for offshore areas of the pipeline in order to prevent in future its full completion.

Accordingly, Gazprom, which will invest $ 9 billion on the construction of “Nord stream-2”, counting on the fact that its handling capacity will be 55 billion cubic meters of gas per year. And the change of the gas EU legislation will lead to the fact that the pump will be only half of this amount. And investments in the construction of the pipeline will be extremely inefficient. Partners “Gazprom” under the project can refuse it.

“SP”: — That is Gazprom as it wants to say that in this case, the losses will be passed on to the Europeans.

— Yes, and makes it clear that it is better to think 10 times whether to continue to insert “Gazprom” spoke in the wheel.

In addition, amendments to the gas the EU law contrary to the law of the sea, since the EU wants to extend its jurisdiction over sea territory, which is freely available for other States, including Russia.

It is clear that “Gazprom” went on the attack. Before he was only repulsed the attacks of his opponents, and is now making pre-emptive moves. Time is running out, it is time to begin construction in the waters of Germany.

“SP”: — is it possible to expect justice from the European courts, if “Gazprom” will submit the claim about compensation?

— While those judicial decisions on gas dispute, has been relatively balanced. Not to say that they were unequivocally in favor of “Gazprom”, but in some aspects the company remained in the black. You may recall how Lithuania lost a lawsuit to “Gazprom” or the last decision of the Stockholm arbitration court under the claim “Gazprom” to “Naftogaz”. Of course, all the demand of the Russian company of damages was not satisfied, but almost three billion dollars Ukraine has to pay. When we are not talking about political statements and about the subject of judicial proceedings, the Europeans still try to adhere to objectivity.

— The probability that the “North stream-2” will distribute the Third energy package and Gazprom will have to sue — very high, — said political analyst Leonid Krutakov. — Of course, Germany is interested to receive Russian gas, having as a transit intermediary Ukraine. However, the pressure of the US is the most powerful. It may happen that “Gazprom” will have to deal not with individual national States, as it was until now, and with the European bureaucracy in Brussels. This time, EU officials are trying to achieve. And with Brussels would be harder to negotiate than a single Germany, Austria, Hungary, etc.